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Question 2 Consider a level-payment mortgage, the initial principal is M0=1 million, the coupon rate is c=5% per period, and there are n=20 payment period

Question 2

Consider a level-payment mortgage, the initial principal is M0=1 million, the coupon rate is c=5% per period, and there are n=20 payment period in total. Compute the amount of each payment BB.

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